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FCL pauses proposed Integrated Agriculture Complex projects

Reasons cited include regulatory and political uncertainty, potential shifts in low-carbon public policy, and escalating costs.
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Federated Co-operative Limited CEO Heather Ryan talks about their commitment to helping people learn the historical significance of the heritage park.

REGINA- The two main projects related to Federated Co-operatives Limited's proposed Integrated Agriculture Complex in Regina have been paused.

The company states in a news release Friday that the proposed FCL renewable diesel facility, and also their joint venture canola crush facility project in partnership with AGT Foods, are both paused for the foreseeable future. The canola crush facility was to have supplied feedstock to FCL’s renewable diesel facility.

In a news release, FCL cites "regulatory and political uncertainty, potential shifts in low-carbon public policy, and escalating costs" as reasons for the decision.

 “The decision to press pause on these two projects is not one we took lightly,” said Heather Ryan, FCL CEO, in a statement.

'When making this decision, we undertook a robust due-diligence process, that carefully considered our best pathway to meet compliance obligations, while ensuring investments are appropriate, provide value and benefit to the Co-operative Retailing System and support our short and long-term sustainability goals.”

“I want to take this opportunity to thank Heather and everyone at FCL. Our partnership was built on an aligned vision and culture, and the project reflected that alignment,” said Murad Al-Katib, President and CEO of AGT Foods, in a statement.

“Canola is a key part of the production rotation of Saskatchewan farmers, along with their cereals and pulses, and will continue to be a leading agricultural export for the Province. While it is not the right time to continue our JV canola crush facility, agriculture remains a growth sector in Saskatchewan’s economy, where we will continue to look for new opportunities for investment.”

FCL adds that it is continuing to pursue pathways to compliance with the Federal Government's Clean Fuel Regulations with investments in carbon capture projects at the Co-op Refinery Complex and Co-op Ethanol Complex.

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